Tag Archives: Don’t

Don’t Forget About Share Secured Lending!

It’s no secret that lending growth drives the credit union industry. With that in mind, it is important to zoom out and look at the bigger lending picture from time to time. When you do, you will discover that some forms of lending are not promoted as regularly as others. As a result, your members could be missing out on lending opportunities. Let’s take a closer look at one form that often gets overlooked. Your credit union should focus on share secured lending for two main reasons.

Two Member Benefits for Share Secured Lending

1. Share secured lending helps members. That’s right, this is a great way to help members who may not be able to qualify for traditional forms of lending. It’s a nice way to give them a fresh start. Your credit union is able to secure the loan with the members’ savings accounts. It’s a surety of payment for your credit union. Yet, the member sees the loan as an encouraging step of good faith. Share secured lending promotes trust and loyalty between the credit union and the member.

2. It is a great stepping stone. Usually, once a member pays off their share secured loan, they qualify for unsecured loan products. These may be the same types of financial products they just paid off, only this time they are able to get a better rate or better terms due to their improved credit history. This is a great confidence boost for members. A boost that would most likely not happen without offering a share secured loan.

Offer Share Secured Lending

Share secured lending can be either offered in installment loans or lines of credit, which are ideal for those members who are perhaps unable to obtain unsecured credit. After a share secured loan is paid off successfully, the next step can very often be to apply for those same products your credit union offer, but unsecured :-).

Of course, all of this translates back to more lending growth for your credit union. That growth is good for other things too, like member retention and new membership. Loyal members who formerly held share secured loans will love spreading the word, trumpeting to friends and family about how their credit union is the best place to get a clean financial start.

Our consumer lending package will help you deliver those loans with ease. Oak Tree has everything your credit union will need to offer your members a superior lending experience. As always, all of our forms are up to date with all state and federal regulations. As well, all of our forms will easily integrate with your data processor. If you haven’t taken a hard look at share secured lending before, after the holiday season is the perfect time to do so. Chat with us for consumer lending or home equity lending packages at www.OakTreeBiz.com.

Learn what it takes to be a Customer Service Representative with our Consumer Lending Group. Hear from one of our Customer Service Supervisors about the Customer Service Representative day to day responsibilities, and the qualities and skills successful candidates should have. In addition, you’ll learn about the training program for this role and about career development opportunities.
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Don’t let your home loan deal turn too expensive with high interest rates

Everyone dreams to own a home but in the ongoing economic scenario owing a home is not as easy as it sounds. But in the current scenario of inflation, the prices of plots and houses have jumped in the recent past and this has raised the demand for home loans. There are various financial lenders, public and private sector banks that offer home loans. Buying a dream house is not tough anymore as banks and financial service companies stand by you offering you home loan with lowest interest rates. Loan applicants always look for lower home loan interest rates. One can easily get a home loan if he/she falls under the set eligibility criteria. In order to be eligible for the home loan, one should be either salaried individual or self employed or should be a professional. In precise, one should have a regular income source so as to meet the eligibility criteria because if the borrower is an earning person than there are high chances to get the loan repaid.

Besides aforementioned qualifying categories, there are some other factors that determine home lone eligibility such as income, age, interest rates, loan tenure existing loans and credit history. Although there are plethora of resources that provide you loan but searching a reliable bank and financial lender is imperative because buying a new home requires a huge amount and one can not afford risks in such huge money. There are many home loan providers in the country that offer lowest home loan interest rates and allow you to own a home within your own ease.

The home loan providers understand the specific needs and requirements of every individual client and hence they offer customized loan solutions that suits their lifestyle and requirements. Besides providing appropriate and right services to loan seekers these financial service providers also offer best consultation and stress-free processing of home loan applications. Interest rates for home loan differ as per the different financial lenders and banks. The rate of interest is based on two factors; the quantum of the loan and the loan period. Apart from this, interest rates for housing loan also depend on availability of money in the market, inflation and monetary policies of the Reserve bank of India. Banks provide two types of interest rates- floating interest rate and fixed interest rate. If a borrower opts for floating rate loan than his/her home loan installments will keep changing as per the fluctuations in interest rates. On the other hand, in fixed rate loan the monthly EMI payment is calculated at a fixed rate of interest irrespective to market liquidity and cheap funding. The decision to choose between floating and fixed rate depends on various economic factors and outlook. Floating rates offer more flexibility in regard with pre-payment while fixed rates provide protection from interest rate fluctuation and give a sense of security to the borrower.

Generally, interest rate for most loans is associated to the lender’s base rate which is determined by the banks based complying with the RBI’s guidelines. As the base rates of the financial lender are assessed quarterly by banks, this review oscillates the interest rates.

Propertyloanguru provides you service to find out lowest home loan rates in India from any bank. Check and compare by our EMI Calculator for Home Loan and know about the home loan interest rates of all major banks in India.

What Credit Bureaus DON’T Want You to Know!

What credit reporting agencies DON'T Want You to understand!

http://creditrepairpublishing.com/credit-repair-articles/56-credit-bureaus/151-what-the-credit-bureaus-dont-want-you-to-know-about-the-metro-2-format-and-credit-reporting
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Credit Bureaus accept Credit Reporting Overhaul!

The NCAP settlement changes the way in which credit disputes tend to be initiated…appealed and settled.

Effective Sept 9, 2015

Keep your commission! Help your customers boost their particular credit scores in order to purchase the residence of these desire. Boost their particular purchasing power by increasing their credit scores.
Aided by the brand-new NCAP laws, “credit restoration” agencies are now actually going out of business. What the law states is now on the side of your buyer. See how to assist their credit and help you close your discounts!

Don’t Be an ID Theft Victim When Using Social Networking Websites

Sure, Facebook and other social networking sites can be fun websites to hang out in — as long as you’re having a good, safe time. While the prime social networking site, Facebook, has instituted good measures to protect its users, id theft on social networking sites is still rampant, and it can happen to anybody.

Ever experienced your social networking service of choice sending out spam messages or posts? That’s one clear sign that your social networking site has been compromised. More than sending your friends spam messages or littering your wall with spam posts, getting hacked on a social networking site may expose you to the risk of identity theft. While a social networking site is fun, the effects of identity theft are, on the other hand, grim and grave.

Here are a few of the effects of identity theft:

* The thief could use your data to open new accounts.

* As the thief makes financial transaction using your personal data, your credit report could be affected.

* When your credit report is affected, your credit score could go down, and you may get bad credit as a result.

* When your credit scores are low and you are in a state of being in bad credit, you could be denied much-needed loans. Worse, job prospects and even promotions may elude you.
Thus, you have to make moves to prevent social networking id theft.

How to protect from id theft is simple. It could entail only these common-sense steps:

* Never reveal your SSN to anyone you meet online. There is no reason for you to reveal your SSN to friends, even relatives.

* Use a dating site to meet new people, but keep only friends and people you know in real life when using social networking sites like Facebook.

* Never click links in spam emails. Never click links in emails you are unsure of, even when they come from real-life friends.

* Use the social networking service’s security measures to protect yourself.

* Use a complicated password.

More than personal id theft protection on social networks; also use these measures with your email, as well as other transactions online. Never give out any form of important information to anyone online.

Avoid clicking links. If you must date, opt to meet people in real life and scrutinize the people you go out with. During the early stages of dating, never bring the person to your home.

Other, real-world ways to protect from id theft are even simpler:

* Always shred documents that contain important data items, such as your SSN, your credit card details, and even your health insurance number.

* Be vigilant about collecting and disposing of your mail properly: Collect mail every day, or every half-day, if it’s convenient for you. This way, the risk of being a victim of mail theft, which can lead to identity theft, is minimized.

* When using your credit card, always make sure that your card isn’t taken out of sight for too long. Always use VeriSign-protected websites when purchasing things online.

Facebook and the other social networking websites are actually safe places in general. If you can choose not to add your SSN, DON’T. If and when you get to click on links leading to websites that may ask for your SSN, just leave immediately. There is no reason for you to give it out, at all. Be wise. ID theft protection on social networks is a matter of being aware and healthily wary.

Amy is an active blogger who is fond of sharing interesting finance related articles to encourage people to manage and protect their finances. Read more on how to prevent id theft while using electronic gadgets and why women are more prone to id thefts.

Take a look at the day’s top stories with anchor Sean McDonald.
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What car insurance companies don’t tell you about rates

Auto insurance organizations claim they can help you save money, in “the reality About auto insurance,” customer Reports claims otherwise. The magazine conducted research for 2 many years by which they analyzed above two billion auto insurance price qutoes from above 700 organizations. Margot Gilman of customer Reports joins “CBS This Morning” to go over the conclusions.
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3 Credit Reports FAQ – Don’t Ignore Economic Reality

3 credit reports
by< a href=" http://www.flickr.com/photos/126377022@N07/14761074654" > Net Archive Publication Images What Are the 3 Credit score Reports?In the United

States, the usual phrase” 3 credit report reports” refers to Equifax, Experian, and also TransUnion. These are the three primary credit rating coverage companies that maintain records on whether grownups are paying all their expenses on time.Am I Entitled to Free Copies of the 3 Credit scores Reports?Yes, many thanks to an update to the government Fair Credit scores Coverage Act (FCRA) you could access at the very least one cost-free copy of your records annually. Plus you can ask for complimentary duplicates of your records with other credit score bureaus; some instances are Innovis, Telecheck, Certegy, as well as ChexSystems.If you currently got your free of charge copies, you still may be able to obtain even more free duplicates. If you are refuted credit report, required making a down payment for energies, strategy to request a work, or think you are a victim of identification burglary you can generally get even more free duplicates of at the very least among the 3 debt reports.How Long Does Details Remain on the 3 Debt Reports?It relies on whether the details has to do with timely settlements or missed out on settlements. Usually, a closed lending or credit card account that was always paid on schedule will certainly remain on your 3 credit history records for at least Ten Years. A charge account always paid in a timely manner must report forever and aid boost your credit rating score.If you have actually late or missed settlements, your credit history score generally will suffer some damages from that for 7 years. In the occasion of Phase 7 personal bankruptcy or a tax obligation lien, the reporting time changes to 10 years.How Can I Swiftly Enhance My Credit history? 1. Check your debt record a minimum of annually.

You could see the government-approved web site AnnualCreditReport.com to see what business are claiming concerning your economic credibility. If something is wrong or greater than 7 years old, you can object the information.2.

Understand that the credit rating system benefits you for borrowing as little money as possible. If you do not obtain charge card whenever you really feel the desire, you will have a far better credit report ranking.3. Pay greater than the minimum regular monthly repayments each month. A myth pertaining to the credit report system is that you simply have to pay your costs as guaranteed to obtain a wonderful debt score. This is provably false. Paying also a little bit over just what is called for will certainly improve your rating. This is a significant secret to successfully browsing the credit history racking up system.http:// www.creditscoreresource.com/. CreditScoreResource.com is devoted to offering intelligent solutions to debt related inquiries generally asked by customers. http://www.creditscoreresource.com/ Associated< a href= "http://freecreditreportgov.co/category/3-credit-reports/" > 3 Debt Records Articles